Base Metal Stocks Articles

DAILY SCRAP REPORT: Market stays quiet after holiday lockdown

May 28, 2020 / Staff reporter

The Turkish deep-sea scrap import market was quiet on Wednesday May 27, with market participants returning after a four-day lockdown, sources told Fastmarkets.The whole country was under lockdown to prevent the further spread of the Covid-19 virus during the Eid al-Fitr celebrations - which are held to mark the end of Ramadan and took place between the night of Friday May 22 and the...Read More

IRON ORE DAILY: Seaborne iron ore prices stable amid active trading

May 28, 2020 / Staff reporter

Seaborne iron ore prices regained some stability with active trading on Wednesday May 27, after falls the previous day that were triggered by an easing of supplies from Brazil.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $95.37 per tonne, up by $0.09 per tonne.62% Fe low-alumina fines, cfr Qingdao: $98.00 per tonne, up by $0.03 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $84....Read More

IN CASE YOU MISSED IT: 5 key stories from May 27

May 28, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday May 27 that are worth another look.The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pan...Read More

Iranian export billet, slab prices surge in fresh sales

May 28, 2020 / Staff reporter

The Iranian export billet and slab market gained further ground in late May, supported by fresh bookings at higher price levels.Some market participants noted that customers, particularly in Southeast Asia, were interested in Iranian billet due to quicker delivery times compared with other suppliers - particularly those in the Commonwealth of Independent States.In China, Iranian billet w...Read More

FOCUS: 8 key effects of China's 'twin sessions' on global commodities trade

May 28, 2020 / Staff reporter

The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pandemic.Market participants harbor mixed sentiment over the impact of the policy measures. Here are eight...Read More

EUROPE SECTIONS: Prices continue to slip as quota renewal approaches

May 28, 2020 / Staff reporter

Prices for hollow steel sections in Europe slipped further this week with lower import prices adding pressure to the weak domestic market, sources told Fastmarkets on Wednesday May 27.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?550-570 ($603-625) per tonne on Wednesday, down from ?,?560-580 per tonne one week previous."Demand is the...Read More

Turkey uses WTO to threaten EU with tit-for-tat import duties on steel products

May 28, 2020 / Staff reporter

Turkey has told the World Trade Organization (WTO) that it is planning to impose import duties on certain steel products from the European Union.On Monday May 25, Turkey informed the WTO that it plans to impose an additional duty of 9-17% on steel product imports from EU. The products to be affected are hot-rolled flat steel under HS code 7208, cold-rolled flat steel under HS code 7...Read More

FOCUS: 8 key effects of China's 'twin sessions' on global commodities trade

May 28, 2020 / Staff reporter

The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pandemic.Market participants harbor mixed sentiment over the impact of the policy measures. Here are eight...Read More

China floats 'national iron ore fund' to boost domestic production

May 28, 2020 / Staff reporter

China is considering setting up a national iron ore fund to support the development of its domestic iron ore production, China Iron & Steel Association (Cisa) chairman He Wenbo said.The fund will use an estimated 90 billion yuan ($12.57 billion) from tax levies to support domestic iron ore development and ensure that China is capable of meeting up to 20% of its total iron ore demand.Income tax fro...Read More

IN CASE YOU MISSED IT: 5 key stories from May 27

May 28, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday May 27 that are worth another look.The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pan...Read More

Iranian export billet, slab prices surge in fresh sales

May 28, 2020 / Staff reporter

The Iranian export billet and slab market gained further ground in late May, supported by fresh bookings at higher price levels.Some market participants noted that customers, particularly in Southeast Asia, were interested in Iranian billet due to quicker delivery times compared with other suppliers - particularly those in the Commonwealth of Independent States.In China, Iranian billet w...Read More

MINOR METALS MARKET REPORT 27/05: Antimony falls again; higher deals support selenium

May 28, 2020 / Staff reporter

An overview of the minor metals markets and the reasons for their latest price moves.Read More

NOBLE ALLOYS MARKET REPORT 27/05: Weak Europe demand depresses ferro-vanadium market

May 28, 2020 / Staff reporter

An overview of the noble alloys markets and the reasons for any price moves.Read More

IN CASE YOU MISSED IT: 5 key stories from May 27

May 28, 2020 / Staff reporter

Here are five Fastmarkets stories you might have missed on Wednesday May 27 that are worth another look.The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pan...Read More

HOTTER ON METALS: Looking for LUV in the time of Covid-19

May 28, 2020 / Staff reporter

How long it will take the global economy to recover from the Covid-19 pandemic is anyone's guess right now.Could the world's major economic regions be in for an "LUV" recovery similar to the one they saw after the global financial crisis of 2008-09?That was the format of recovery that was expected in 2009 by former Rio Tinto chief executive officer Tom Albanese, who was at the helm of the mining g...Read More

HOTTER ON METALS: Move over, mega mine, ex-Rio Tinto CEO says

May 28, 2020 / Staff reporter

The Covid-19 pandemic is likely to lead to another casualty: the mega mine. The volatility created by crises like Covid-19 is adding a layer of uncertainty to the development of large-scale projects that take a decade or more to progress and are highly capital intensive, according to Tom Albanese, the former chief executive officer of Rio Tinto.This means that mining projects are likely to be deve...Read More

HOTTER ON METALS: Alcoa calls for industry-wide aluminium cuts

May 28, 2020 / Staff reporter

Alcoa Corp has called on the aluminium industry to assess the cost effectiveness of its smelting capacity and make cuts where appropriate - or face a ratcheting up of inventories and a protracted period of low prices. Roy Harvey, the US producer's chief executive officer, said that while curtailments were costly, both financially and in terms of job losses, they were more than necessary at this mo...Read More

FOCUS: 8 key effects of China's 'twin sessions' on global commodities trade

May 28, 2020 / Staff reporter

The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pandemic.Market participants harbor mixed sentiment over the impact of the policy measures. Here are eight...Read More

LIVE FUTURES REPORT 27/05: Negative US-China rhetoric caps LME base metals gains

May 28, 2020 / Staff reporter

Three-month prices for base metals on the London Metal Exchange, except aluminium, closed in negative territory after trading on Wednesday May 27, with futures prices capped by risk-off sentiment created by reignited tensions between the United States and China.Tensions have flared between the two countries over China's proposals for new security laws in Hong Kong, pointing to a further deteriorat...Read More

BASE METALS WARRANT REPORT 27/05

May 28, 2020 / Staff reporter

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 27.Read More

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